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on the pulse of the economy and consumers. landry's is one of the country's largest estaurant and gammably companies. he is here to tell us where he sees the biggest headwinds and opportunities right now. >>> call it the anti-student loan. investors will pay school costs for a piece of student's future income. isn't that interesting? can this help solve the student debt crisis? the ceo behind it will explain this break through because even when they say it is a not it is always about money melissa: first today's market moment. the bulls are back in the driver's seat. the fed says its policy to stimulate the economy will continue and investors breathed a sigh of relief. dow came close to setting a new record high. the nasdaq marched back toward a 12-year high. the s&p 500 finished less than seven points away from its all-time high. here is who made the big money, proctor & gamble, chevron, travelers and johnson & johnson and united technologies all closed at all-time highs. congratulationses if you own those stocks. >>> all right. our top story tonight how the government in cyprus is make b
company with extraordinarily small economy. the fact it would precipitate a run with the greek banks or italian banks and bring down the entire system in europe, fumbling along, kicking the can down the road is really pretty fried and we know from experience these events, whether in the balkins with the shooting of an arch duke or whether in cyprus with the shooting of a banking system can lead to fairly significant consequences for the entire european continent and us. >> so far, the worst-case scenario hasn't happened yet. so far. that's good. let me ask you, steve forbes. do you believe that the united states can make itself immune? are we strong enough economically, and financially, to withstand the kind of worst-case scenario that senator gregg discussed? >> the answer is no. we should have learned that from 2008 when these dominos start to topple. it hits everybody. and this is what is so inexplicable. why did the germans draw the line on this, for sheer domestic political reasons. they don't want to be bailing out russian oil gargs. they have an election this year. they have k
tryg to time thearke gyrations. >> overall you think the stronger than expected economy is what is going to power the market to higher levels, to that 1700 that you see in the s&p 500. but which specific sectors of the market do you think will lead the way? >> well, i like most of the cyclicals better than the defensive stocks, tyler. i think as the market keeps going higher, more and more people are underallocated to economic sensitivity. so i really like the manufacturing stocks, the industrials, and the basic materials. i think the financial stocks ve done well and wil coinue to dwe. an i would look at trying to put a little bit into technology stocks that have been really bad for the last year. i think i'm seeing confidence in ceos rise and capital spending going up, and i think that sector could come to life yet in the second half of this year. >> jim, as you know, federal reserve policymakers are meeting on tuesday. do you -- nobody is really expecting any significant change in policy. but do you expect any change in tone and conversation? and how might that impact investo
to give the state all of our resources which would be at least 3 billion euros to help the economy. maybe a little bit of help from heaven. back over to you. >> the archbishop, this is something people should go look up this piece of the story. this is a fascinating piece. he's seen as this spiritual leader there who has been quite vocal. he's been out there talking saying let's get out of the euro and go back to the pound. do we have carolyn? can i briefly ask what it's like on the ground there? we understand that it may be several more days, not just thursday, before people can access their money in cyprus. >> absolutely. initially we know that banks were going to be closed up until tomorrow but at this point there's a lot of speculation that banks will be closed up until tuesday because monday is another bank holiday and at this point it's very, very uncertain that we'll get a viable plan b to get the bailout deal in place at this point it doesn't look like we'll get it by tomorrow. at this point we are expecting that banks are going to be closed for a little bit longer. of course that
to share with you some views of the economy from our 54 respo respondents. firming housing prices are a game changer. there is something much more self-feeding about recovery this year. could be a turning point. the objepposite from john rober. we believe a recession/economic slowdown is a possibility in the latter half of 2014 or early in 2015. some of the excesses that could cause a recession are beginning to build in the economy. another piece of data, the biggest problems facing our economy, taxes/regulation, 29%. i would say that's a victory given that europe is not in there for fear of recession is not in there. too much deficit reduction, 16%. slow job growth, 12%. too little deficit reduction, 10%. guys, these are more normal problems, i would say, than we've had in the past. the european financial crisis, u.s. financial crisis. sue, i would take a victory, yes, there are problems out there. >> i totally agree with you. it's the first time in a long time we haven't seen europe on a list like that. >> thank you, steve. >> absolutely. thanks, steve. >> sure. >> the markets h
idea. i mean, if you look at cyprus' economy, there are two major factors to that economy. tourism and financial services. you could kill the financial services immediately right there. so it's two underpinnings. almost like when greece was doing smo of the same things. >> but you say it matters because it could spread elsewhere? >> just the thought that somebody thought this was a good idea is scary enough to me, i would think. but it's going to be one of those things. we'll have to watch and see how it folds out. but i've got a feeling it will have to turn itself around fairly quickly. >> michael, what do you think? have you changed any of your behavior in terms of allocating capital, as a result of what we've seen in the last 48 hours? >> no, not really, maria. i still think that cyprus is certainly something to watch. but i think it's just part of the negotiation process, exactly what's happening in greece. we have to watch and see if it accelerates and this idea sweeps around europe, but i doubt that's going to happen. i actually think that europe is starting to present some o
think it depends on how fast the economy is moving. if the fed is able to engineer the customonsumer taking over, they can back up. i don't think it affects the market. if the economy is not moving at 3% or faster, then it will back up. >> rick santelli, the economy not moving at 3% or faster is what michael crofton is talking about. when do you expect that kind of growth? >> you know, i think growth is going to remain well under 3%, 2.5% to 3% for a while. and i think any type of calibration change between the interest rate complex, whether it's through the market forces or it's through the federal reserve, any type of recalibration is not going to be received well by equities. no matter if you think 10 to 50% of what's going on in equities is the real deal with a better economy, and you believe the balance is the fed, no matter what it is, it's been pedaled to the medal. and once the recalibration hits, i don't care when it hits, it's not going to be pretty. so, therefore, i don't predict that the fed is going to do it voluntary. and i think in europe, there could be an arch duke f
and the new fed forecast for the economy. and the stocks we're focused on this morning, blackberry getting an upgrade at morgan stanley and a note titled why it won't go down and it gets into the best buy bull camp, and calling it the best near-term idea in the sector. let's get straight to fedex. the package delivery company says it earned $1.23 a share in the fiscal third quarter and below wall street forecasts. fedex says the customers were choosing slower transit services. this does happen, of course, after a massive run in the transports. >> one of the things that amazes me about fedex is they keep missing and they get loved a few days later. missed and gets loved. it's still regarded as being a profit machine. they have this restructuring that people like very much. people feel it's only a matter of time before someone steps up to the more expensive freight. to me, my charitable trust owns ups. ups has the expectations lower. scott davis always says negative things. >> melissa hit the nail on the head. the stock had a big run and the two guys were going head to head over what was in
a little bit. >> that's a good point. for a long time the bears have been insisting that the global economy is not as healthy as this teflon stock market in the united states would indicate, and now they've got some ammunition. two companies from fed ex and from caterpillar. now, caterpillar had dismal three-month sales numbers. really shocked a lot of people. fed ex, of course, had disappointing earnings situation, lower than expected international volume. now people are saying, see, we told you. here are who big companies who are saying it's not as big as everybody said. deere got a downgrade from wells fargo. i'll talk more about that in the 2:00. a little bit of good news on housing. keeps rolling along. lenore, 34% increase in building. >> we'll see you back in a few minutes. ty, we'll send it back up to you. >> thank you very much. bob just gave you a very clear shot at the market picture, so what's driving it? well, obviously three developing stories and we're going to cue you in on all of them right now. the fed, steve liesman is in washington. russia's financial overtures toward cy
's an means to the end. we want to revival upper mobility and growth in this economy. >> senate democrats are going to release their own spending plan after calling the republican proposal unacceptable. it will call for about $1 trillion in new revenues by closing tax loopholes and about 1 trillion in spending cuts at the same time but no structural changes to medicare and the question is will that get -- do either of these plans get anybody anywhere or is everyone talking to themselves? >> they're talking to themselves. we discussed it yesterday. in the last negotiations you still have the fact there are republicans who think that the republicans gave too much and then there are democrats who think that the democrats didn't get enough. so you have those clashing interests. >> i think what happened in january kind of derailed everything because by having these incremental advances instead of a grand bargain throws off the possibility that you do get the grand bargain. you see both sides digging in making sure they respond to their base saying the types of things that their base wants to h
insolvent. the banks in cyprus are huge, eight times the size of the economy. consider that here in the united states. our banking system is roughly one-time the size of our economy. what we're waiting to see next are they going to get this through parliament and get it done? it is so controversial they're trying to find out different ways to make it less controversial. impose the tax on larger shareholders to a much greater degree. it was originally 9.9% and you go to 12%. if you didn't want to tax the small guys at all you'd have to go to 15% or 16%. this is the scene when the president walked into the palace headquarters. there were people there with no written on their hand and this says merkel stole our money. keep in mind, european union will still give them 10 billion euros and they were trying to come up to reduce the original size from 17 billion euros. the other thing to keep in mind, by taxing depositors they're taxing a lot of foreigners and a lot of russians who had kept their money. the thing is will the rest of europe, will small depositors across the rest of europ
stock market and rising investment returns in the economy. but it's not all good news out there. detroit, take a look at the new man in charge of your money. governor rick snyder naming kevin orr as emergency manager for the financially distressed city. i think bankruptcy and busted union contracts are the only answers, i will speak to the kwov nor and mr. orr about their chances and president obama, very interesting things to tell republican senators this afternoon. he says he's for corporate tax reform and willing to push fellow democrats on entitlements. is the charm offensive starting to pay off? "the kudlow report" begins right now. first up tonight, a nice 83-point move higher for the dow, makes it ten straight days of gains. we have details of another day of record highs, good evening, ka kayla. >> reporter: jobless claims fell unexpectedly and gave traders more confidence in growth. the dow sitting above 14,500. up 83 points to 14,539. this month the dow has been up nearly every single day. the s & p within four points. all time record closing here. 1,563. on rising rates on trea
the day. from the economy to earnings now. we get a number of interesting quarterly reports due today as well. before the bell, we'll hear from fedex, general mills and lennar and this afternoon we have oracle. a lot to chew on for the markets. s&p by the way coming off its first three-day decline of 2013. take a look at u.s. equity futures at this hour. green arrows across the board. and then of course there's cyprus. the country's leaders are holding crisis talks today trying it avert a financial meltdown. the parliament rejected an unprecedented tax on bank deposits. that was a key part of the eu bailout terms. the finance minister is in moscow today with mounting speculation that russia could step in with a safety plan to safeguard russian deposits in cyprus. steve sedgwick is in moscow where he caught up with the finance minister there an hour or so ago. steve? >> they turned to russians once again. there's a loan on the table from russians dating back from 2011 so it's not the exception to it the rule for the cypriots to turn to the russians. the russians themselves are indignan
-- pillars for any move higher and expansion in the economy domestically. housing, financials without a doubt. energy as the third. liz: okay. >> large cap technology for the dividend but those three i think you've got to have exposure sure to with dry powder right now. liz: let me tell the viewers. things working past five months, at least follow that trend for now, correct. >> yes. david: wow! that is amazing we could see doubling of money they made in housing an financials. george, we were talking a little bit about the consumer sector, retail sector specifically. you think it is good time to buy into mickey d's or mcdonald's now? or again, like we talked about apple, should we wait until it comes down? >> you want to buy mcdonald's. you want to buy coca-cola. you want to buy large cap blue chip names. right now mcdonald's is trading under $100 a share and coca-cola is trading at about 38. david: mcdonald's at 100, george, mcdonald's at 100. it seems a little pricey right now at 100. should i wait for it to come down into the 80s for example? >> you could. you could do the same strategy as
i did with this article. the simple fact is that we live in two economies in this country. all of them lived in one economy which has had a lot of trouble over the last decade and then there is the medical economy which has been booming, just going hog wild booming, and the reason, there is no con proehl on the profits and the prices, and i don't come from -- i'm a left-wing perspective. i look at it from the standpoint of the consumer which & they have no leverage under the marketplace. >> under the obama care there is hope for this because they'll be big nufr, how health care is the unit price. they all have to be built by the patient. >> i'm not sure we solved it, but we made a veiliant effort and i hely recommend steve's piece and it is one of the best things i've read on the spiraling cost. court tv founder and former governor howard dean. >> coming up, catholics around the world waiting for a new pope. why it would be beneficial for him to be a man of god with a head for business, but first, let's take a look at how treasurys, currencies and commodities fared today. >> on
of the economy that are not that strong and i don't know what the sequester will bring in the month of april. >> look, the data say things are better, and i think the fed will be under a lot of pressure because interest rates are headed higher. >> at some point the fed will have to acknowledge that -- and they have -- to your point, they changed the language a little bit. it's a moderate recovery and it's a strengthening recovery. words like that. >> right. >> at some point they're going to have to acknowledge what we all seem to know which is -- they're not great, but things are getting better. now will inflation pick up and that, of course, is the fed's number one mandate. will inflation pick up until we see jobs pick up because wage inflation comes with excess demand from workers. i don't know. that's the big trillion dollar question mark. >> commodity inflation whether it be corn or copper and the strong dollar will contain inflation that's going up a great deal. housing is stabilizing and not really in the numbers. i want to take issue with some of what you said. i think we all think th
in a big way, whether it is a game changer and what that means for the market and the economy and everything else. i know we'll be talking about it it at noon. >> we're going to get our last word. they can talk about it for just one second and not that long because we've only got a minute and we'll talk to henry blodget and curtis artledge. you asked a question about jc penn penney. maybe they can raise more cash, but they're running out of cash at this point. they don't have that much left. >> you have a final thought on either jc penney or more importantly, the markets? >> i think today's entire discussion has been about the early stages of confidence building and we get past these two gigantic minefields of fiscal cliff and sequester. we start to see m & a pickup and retail sales and they're willing to spend money because they're more scared about their job. we see capital expenditures and people starting to plan for them and sentiment, actually, when we talk about it i don't think there's that much complacency. people are still nervous. >> scott, it was great having you he
within striking distance of the all-time high. is the economy turning the corner or is at market bubble? >> plus, report hack of the first ladies, vice-president and jay-z, apparently including kanye west, bill gates, and others. a knew travel night mar for folks aboard the carnival dream ship. >> our 401ks are on track for another historic day, continuing a winning streak like, well, we haven't seen in the better part of 16 long years. a live look. there's the big board. on the corner of wall and broad. wow, up 62-points. they do you has been running on all-time high, and news that new unemployment claims fell last week to a five-year low. of course, a lot can change in this final trading hour, but if it stays in the green it would extend the dow's rally to ten days, brand new record high. as i mentioned. just take a look how the dow has taken off this month. wasn't long ago that folks celebrated crossing 14,000, and now it's holding steady 500 points higher than that. charlie joins us here on the set. what's the school in. >> we should point out that 14,000 is where it was in 2007 bef
understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> welcome back to squawk this morning. the dow has reached a ninth straight up session. is the market due for a correction? we've been talking about that for a long time. let's start that discussion. we have a couple of people joining us. gene peroni, senior vice president and portfolio manager at advisers asset management. we have joe kinehan. and on set, david pearson, senior vice president and chief economist at nationwide insurance. do we think a correction is coming? >> you know, there are corrections all the time. as long as the fed keeps monetary policy with pedal to the metal expansion and the economy is growing, then the trend in the stock market should be up. >> i'm going to go to santoli. do you think a correction is coming? >> i thought the ingredients we
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crude prices can tell us about the broader economy. stick around. ♪ ♪ no two people have the same financial goals. pnc works with you to understand yours and help plan for your retirement. visit a branch or call now for your personal retirement review. at a hertz expressrent kiosk, you can rent a car without a reservation... and without a line. now that's a fast car. it's just another way you'll be traveling at the speed of hertz. all stations come over to mithis is for real this time. step seven point two one two. verify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. >>> good morning. welcome back to "squawk box" here on cnbc. i'm joe kernen along with becky quick and andrew ross sorkin. u.s. equity futures at this hour after giving back about 62, well off the lows yesterday. indicated that a bounce a little, but a time can happen between thou and 9:30 on the east coast. there's energy, you see crude
is -- we've got two crisises going on. one we are in a job crisis, a slow economy, and how do you address that, austerity and cuts, spending cuts, and raising taxes, and the republicans are right about that raising taxes slows the economy, cutting spending close the economy. we are trying to deal with both of those crisis at the same time. we've got to 3.5 trillion in revenue increases and spending cuts while the economy has continued to sort of grind slowly. i think what we're looking at now, what we're hoping i think, everybody hopes both side can come together on it, again, how do we get to the 4 trillion that bowles-simpson recommended without killing the economy? and i think that's why you get both these sets of facts that are true. both side are actually right about this. now the question is -- and we've avoided killing the economy by trying to address it. jon: everybody a grows that the long-term driver of the problem are the programs like medicaid, social security. so this president doesn't have to run again. why not do something bold and tell americans, you know, if you're under
'll have a long-lasting impact on our economy. we've been dealing with a lousy europe for a long time. but you'll have this pullback at 5 percent which is about 1484 and 7% at 53, i might consider getting back in, but i'm not doing it until then. cheryl: looks like europe doesn't have a plan, obvious. let's go to the nymex, jeffrey grossman. jeff, let's talk about the oil contract. one of things we saw today again was the safety of the u.s. dollar. you had traders around the world jumping into the dollar. your take. >> today was really a dream come true in many respects. we walked in this morning, the dollar was very strong, took our market down right to the support level. 91.75 and spot crude was a major support level on the way down. the minute the dollar weakened, came off those highs a little bit, market rallied right pack to where the resistance levels are which is in the high 93.85 to $94 level. it's behaving like a normal market really with a little input that came in from the european information here, but the truth of the matter is this is a market that still, again, is a sal
in the 2008 meltdown of the american economy, as of late 2012, there have been several civil suits filed against major wall street financial firms, but not a single criminal prosecution. in this edition, we look back at the 2008 financial crisis and the failure of government regulators to prosecute those who might be criminally responsible. later, lehman brothers bankruptcy investigator anton valukas shares his findings on the collapse of the giant investment bank where no senior official has ever faced charges in the biggest bankruptcy in u.s. history. but first we begin with a nine-month 60 minutes investigation looking for wall street cases that might have prosecutorial merit. in december 2011, steve kroft reported on two such cases. we begin with a woman named eileen foster, a former senior executive at countrywide financial, one of the epicenters of the crisis. >> do you believe that there are people at countrywide who belong behind bars? >> yes. >> do you want to give me their names? >> no. >> would you give their names to a grand jury if you were asked? >> yes. >> but eileen foste
this moment fragile. >> rose: because of its economy but because oif its inability to have -- >> because of poet. >> -- because of both. >> rose: talk about the politics first. >> you have this political aggregation that have an unexpected success because of the crises of the parties. and -- the five star movement exploited this. and now because there was a division among the existing party, we are the stalemate. but i am not desperate of that because it happen in many occasions, many european counties. i think you have to let the sand departed and to wait the water become clear. and some temporary solution will be found. >> rose: like what? >> like some sort of as we call it, government of the president that say the government who have the majority evaluating case by case, or you know, with some temporary agreement. one of these solution will be found, another to let the situation calm down. >> rose: so here you have, look at this. you have, mr. berlusconi getting 25% of the vote. >> yes. >> rose: a comedy mr. grilo had 20 percent poster of the vote. mr. berlusconi i
question. if we can't economy commitment and assurance which i've made publicly to the american people and to you privately that all options remain on the table, including the prospect which the president, charlie, does not want to do of unilaterally using military force to deal with iran's putative nuclear program. >> rose: so therefore the question is do you have any reason to doubt the president that he believes all other options have failed and iran is about to a year from now get a nuclear weapon and the ability to deliver it that he would not act? plunging markets notwithstanding the >> rising oil prices, a threat to american economic recovery, a generational war with iranians, all of that notwithstanding i believe that if it's unmistakably clear and this that the iranians are breaking out to acquire aweapon that this president will, in fact, use military force. it's not my preferreded option. it clouds the whole option of what the end state would be but i believe, yes he will use military force. >> rose: you agree? >> i think so, too. it's not just about the israelis as well. it
a two day meeting on the economy this afternoon. then fed chairman ben bernanke will hold a news conference. we will have live coverage of his remarks to reporters at 2:30 eastern on c-span3. here's some of what we're covering this morning. the house is expected to finish work on the republican budget of the 2014 budget. live coverage of 10:00 eastern on c-span. on c-span2, the senate is working on a measure to fund the federal government for the rest of the fiscal year. testifying about the ongoing two year civil war in syria. that live hearing starts at 9:45 eastern. this week marks the 10th anniversary of the start of the iraq war. in 45 minutes we will talk with california representative barbara lee, who opposed u.s. military action in iraq. and a congressman who served as a u.s. air force reserve chaplin, we will get his perspective on the war and veterans' issues. will, a virginia senator join us as part of our spotlight on magazine series. he writes about the role of congress in u.s. foreign policy. we will also take your calls, e- mails, and host: good morning, and welcom
, fidelity is there for your personal economy, helping you readjust your retirement plan along the way. rethink how you're invested. and refocus as your career moves forward. wherever you are today, a fidelity ira has a wide range of investment choices to help you fine-tune your personal economy. call today and we'll make it easy to move that old 401(k) to a fidelity no-fee ira. that work the way you wish they would. like a front-end loader you can detach from your seat? or a mower deck you just drive over and cut through knee-deep grass no problem? yep. we thought the same thing you did. that's why we build them this way. that's how we run. nothing runs like a deere. visit your dealer or johndeere.com/howwerun to see the new signature series and 1 family tractors. accomplishing even little things can become major victories. i'm phil mickelson, pro golfer. when i was diagnosed with psoriatic arthritis, my rheumatologist prescribed enbrel for my pain and stiffness, and to help stop joint damage. [ male announcer ] enbrel may lower your ability to fight infections. serious, sometimes fat
of people enjoyed in our economy. we tend not to do that. the modified price increases we have now which is too tense of a percentage point slower on average per year, that's where we are now, then a third one to have are the modifications to reflect the ways people can shift what they bought over time, another three-tenths slower. finally, the price index for the elderly we have about two-tenths faster than the current modified and it puts us back about the same the growth in prices we would estimate as the cpi that we had back on automatic adjustments first went into place. let me to show you a little graph. this is in nominal dollars of what, over time from age 62, considering your retiring, what the benefits would look like under these different flavors of approach. the blue one at the highest is what we would have if we went to a real standard of living adjustment, and standard of living, cost-of-living, take a pic on which word you want to use. you would end up by age 82, 20 years from starting benefit, about 24% higher benefit level than our current cpi cola shows the improved to
the united states is that with the supply growth and the demand destruction the fuel economy. the switch away from oil to natural gas. demand is falling. supply is rising this point. so there is no reaso. wehould not get the soil. if the government does not address this in the investment is going to go elsewhere. it's going to go to getting the loyal to british columbia to the pacific rim and getting canadian oil we should be coming to the united states, it will be going to china if we do not been serious. melissa: always brilliant. melissa: time now for today's fuel gauge report. natural-gas futures at a new high for the year. a new forecast calling for a cold snap across much of the northeast and midwest. raising the a look for natural gas. u.s. stockpiles of natural gas also saw larger than expected drop last week to. and the iranian nuclear powerr3 plant has been taken offline. the plant's power generator is experiencing mechanical problems. that is according to iranian %-the u.s. expected played key role and the potential development of a nuclear weapon. and speaking of iran, the u.s. ex
of the economy more than most and was gratified proctor cooled yesterday, k kimberley cooled. >> there is the sentiment, some anxiety things have been quiet, almost tranquil in a way. >> it's a western? the man who shot liberty prokt sfer. >> invariably something always comes. i don't know whether it will be. geopolitical as we worry or wonder or watch things in iran or north korea. i know. i'm just -- >> 1996. it was pretty darn good for a while. wasn't until the asian contagion, nine months later. >> then we got long term capital, then the fed lowered rates by 50 basis rates. off to the races like never before, ever. that being said, this is 20 13. not 1996. >> we're doing stress testing on banks like we weren't doing back then. we'll get more results tonight. >> we don't have the internet just beginning to blossom. >> no, but we do have situations where -- i'm reading about the elephant in the room which is the galaxy. suddenly they've got a keyboard -- i've been trying to get that keyboard. it does not get me wrong every single time. it remembers what i've got, what i wan
? >> it used to be a stock market was a direct barometer of america and america's economy. that is not necessarily the case anymore. main street malaise and frustration is valid. wall street, particularly talking about the dow jones industrial average, talking about the 30 biggest companies in this country, that move is valid as well. these guys are getting profits from outside of this country. the world can't get enough products from ibm. caterpillar 70% of the its business outside of this country. parent company of kentucky fried chicken, they don't care what happens here, the news from china better be good or their stock goes up and down. anywhere near all the cylinders that we could fire on and american public knows there and obviously they're very frustrated by it. martha: what do we have to do to get growth cooking back in this country again, charles? >> i got to tell you, i don't know over the next four years we will have the exact gameplan we need to be quite frank with you. there is different agenda out there controlling things, anti-business, anti-success agenda.
. but at a minimum, in my judgment, obama care should not be funded and implemented at a time when our economy is gasping for breath. >> in other words, don't get rid of the military. just don't spend a nickel on it. their guy is basically saying in this sort of strange orwellian way, we're going to get rid of it by just not funding it. it's the minimum we can do. that guy has -- well, he's just something else. >> let's make sure that we don't use ted cruz as a barometer for much in washington. he reminds me of the japanese soldier that we found on the philippines years after world war ii ended still in his cave ready to go to war. the courts decided the issue of health care. the election decided the issue of health care. it's the law of the land. and i think it is -- like i said, let's not use him as a barometer on this. because i think the same people in the republican party understand that although they may not like it, it's the law of the land and it's going to move forward. >> steve, where are you on this? do you think it's a settled deal? i think it is. i'd like to think it is. >> it is
. how much of a threat is the happening in europe to the u.s. economy right now? >> also, two huge interviews still to come. meredith whitney tells us why she's very bullish on one of wall street's biggest banks and right now. and cit group chairman and ceo john thain reacts to the rumor that will not go away. namely that his company has been shopping for a suitor. john will try and lay those fears aside once again, those rumors. >> a look at where we stand as we approach this final stretch, final hour of the day. dow jones industrial down about 26 points. had been down 110. we are well off of the lows. nasdaq looks like this. also pretty volatile in the afternoon here. as you can see, it is down about five points at 3243. s&p 500 really similar move here. down five points. equities showing great resilience, pushing back from a triple digit loss today. will the crisis abroad keep the markets in jeopardy? >> you had to be named steve to be on the panel today for the most part. steven water from russell investments, steve sacks. steve liesman is with us. and then there's that guy san
with best-in-class fuel economy. guts. glory. ram. motor trend's 2013 truck of the year. because all these whole grains aren't healthy unless you actually eat them ♪ multigrain cheerios. also available in delicious peanut butter. healthy never tasted so sweet. glass on floors. daily chores. for the little mishaps you feel use neosporin to help you heal. it kills germs so you heal four days faster. neosporin. use with band-aid brand bandages. >>> lbgt americans are our soldiers, our friends, our loved ones. they are full and equal citizens, deserve the rights of citizenship. that includes marriage. that's why i support marriage for lesbian and gay couples. i support it personally and as a matter of policy and law. >> what may be hillary clinton's first policy announcement of the next presidential campaign came 11 days after bill clinton who signed the defense of marriage act into law wrote an op-ed piece saying he believes that doma is, quote, incompatible with our constitution. the white house welcomed hillary clinton to the majority side of marriage equality today. >> i can tell y
economy. >> americans were according to polls, americans are strongly in favor of gun can control. recent poll, favor background checks. more than half favor banning assault weapons. over half favor banning large magazines. >> that's the reason i think the president is glad to be away from washington, away from congress. there is a level of dysfunction here. the power in this institution is enormous. it takes away from common sense steps. you have the filibuster. and senator reid felt, as he counted votes, he wouldn't be able to keep the assault ban weapon in the bill and in the house, majority rules. that's mr. boehner. and it is up to him whether he puts legislation on the floor. now the other dynamic we have is that the country is in favor of it. but in the a lot of these districts, the folks who represent those districts, those people are solidly against it. so you have this situation where the minority, with this gerrymandering actually is vetoing what in effect is i think why the popular efforts common sense steps on guns. >> congressman, i think if it were widely popular, you would
. >> with a could that even mean for the economy, balancing it by 2023 would be great. but i read a piece this morning, mentioning that it would be great 'cause it would ease fears of future tax, so more companies would begin investing a bit more and consumers potentially would start consuming more as well. >> brian: by the way, senator warner and senator dick durbin cote say we need entitlement reform. before the charm offensive, you never got that. >> steve: but it's got to be significant. not just around the edges. that's where the fight comes in. meanwhile, 12 minutes after the top of the moment with the way, paul ryan will be joining us live coming up at 8:30 eastern time on your channel for news. >> straight strait from the horse's mouth. >> brian: good job. tick him off, good move. coming up straight ahead. >> steve: we are cutting our defense budget, but increasing our humanitarian missions in third world countries. where are the nation's priorities added? >> and he got $2 million of stimulus money to create green batteries. one problem, they haven't stimulated a thing. where did
for the sake of balance. my goal is how do we grow the economy, put people back to work, and if we do that we're going to be bringing in more revenue. if we control spending and we've got a smart entitlement package, then potentially what you have is balance. but it's not balance on the backs of the poor, the elderly, students who need student loans, families who have got disabled kids. that's not the right way to balance our budget. >>brian: you were doing good until the last line. if you want to reform entitlements, all of a sudden you don't like the poor, the elderly, people with special needs, then all of a sudden you can't talk anymore. these are entitlement programs that need to be reformed in a way that will be sustainable. you don't have to vilify people that come up with plans. come up with your own plan. for him to say i'm not going to balance the budget just to balance the budget, did he get anything out of the dinner from last week? >>steve: how many times in the campaign did we hear from the democrats we've got to have a balanced approach where everything is balanced, except when
of the economy. the senate democratic budget recognizes none of this. partisan and in setone and complacent in substance it scores points against the republicans and re'assures the party's liberal base. in short this document gives voters no reason to -- >> with us from washington is david growing of "meet the press." that was. "the washington post" saying tough things about the democratic budget but let's commend. i'm commending democrats today and i -- let's commend the democrats for putting out a budget. because this is where we start the conversation and the conversation starts with two budgets that are both dead on arrival. but it's at least a starting point. >> i do think this return to regular order which speaker boehner has talked a lot about makes sense here. we have now seen, what, the last couple of years where republican leaders are really -- john boehner and negotiating directly with president obama is not working so why not let congress do its job and come up with competing visions of america's fiscal future and let them try to hash that out without the white house always bein
to the airport by his friends. he flew there on economy. now next thing that happened in this country, the president is going to fly to rome to be there with pope francis known as francisco for his first mass on sunday, george. >> the pope flies economy. that's something. but one other question -- you say what he was known for is simplicity. is he that well known inside argentina? >> reporter: he's pretty well known as opposed to the other contender based mostly in rome as a diplomat. he was here and met with the people. he was a champion of the poor and he worked very hard to actually help people out in this country and that's why he actually had a pretty decent amount of notoriety here. >> matt gutman, thanks very much. >>> we turn to judge judy. in a twist she could soon be headed to court not as a judge but defendant facing tough questions about expensive goods bought at bargain basement prices. abc's abbie boudreau has the story. >> what are you, crazy. >> reporter: judge judy is used to being on this side of the bench. >> i'm still waiting for your defense. >> reporter: but the
who believe the fed will keep stimulating the economy by leaving near record low interest rates where they are. that's despite a strengthening u.s. economy and rising home prices. new this morning, the congress department announced home starts were up in february. construction rose at its second fastest pace in four and a half years and there is a positive sign for future construction as building permit requests jumped more than 4.5%. that's the most since june of 2008. >>> developing news. we're finding out more about last night's explosion in nevada that killed seven marines. ktvu's pam cook is in our newsroom to tell us exactly what happened. >> reporter: we're still trying to figure out exactly what happened but the pentagon has confirmed that at least seven marines were killed, seven others injured during a training exercise last night. it happened at the hawthorne army depot in nevada, not far from the california boder. 145 miles southeast of -- border, 145 miles southeast of re knee. it's used to -- reno. it's used to train forces. we have new video of some of the injured marin
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